Letter recieved for Bankruptcy

Ingoinggore

I have recieved a letter today saying that my account be fast tracked to a bankruptcy division.

I am more then a little confused by this because there are TWO companies both asking for the SAME amount of money for the SAME account....

All this jargon from Debt collection agencies does my head in because I do not understand them fully, please would someone be able to shed any light as to what I should be doing?

Thank you

Holes_in_my_pocket

just threatening letters to persuade you to pay debt, if going bankrupt just ignore them they wont pay to make you bankrupt as costs them alot and probabaly wont get there money back

fermi

How much do you owe?

Do you have property/equity?

Many debt collectors threaten bankruptcy without any real intent of going through with it. It costs them a lot of money up front to do (£1,500+), and if you have no assets they won't get a penny back.

What is the wording of this letter?

Ingoinggore

In reply to the last post by Fermi,

One letter is a "Pre Bankruptcy Petition" effectively telling me that my account has been reviewed by the head of litigation and it has been decided that my account be fast tracked to their bankruptcy division, to consider filling a petition at court for my bankruptcy.

The amount is for £2,087.02.

The letter is from Red (debt collection services)

The other letter is from Hamptons Legal, asking for exactly the same amount of money for exactly the same client. Their letter is a little less threatening, but still bad nonetheless.

I own a van that is used for work only, my worry is that if I was declared bankrupt, that would be taken away from me and I wouldn't be able to work... I'm a joiner by trade, I need a vehicle to get to and from work.

I also don't earn nearly enough to pay this debt, I'm an apprentice joiner, so I'm at college learning.

I'm so confused

P.S I don't own a house I live in rented accomodation

fermi

Red Collection, Hamptons legal, Lowells etc are just "trading styles" of the same company. Lowell Portfolio.

They like to send these letters out pretending to be someone else or solicitors, but they very rarely actually go through with it.

Why spend £1,000s to make you bankrupt, when they won't get back their up front fees let alone any of the original debt.:rolleyes:

What sort of debt is this?

Ingoinggore

It was a debt from an old bank account, I used to be an insurance broker (I know it's only one step up from the tax man ) and I'll be honest I used to earn quite a good salary.

Now times have changed and I earn a very basic income, in the past three months I've been working 7 days a week to try and make ends meet.... It's difficult, but I have to think to the future, eventually when I am qualified I will be on a much better wage.

eseexEIE

blind-as-a-bat wrote: »

Lowell Financial Ltd 4558936

Categories:
Consumer credit
Consumer hire
Credit brokerage
Credit reference agency
Debt adjusting/counselling
Debt collecting


Trading Name(s) (Current):
Hamptons Legal
iDebt Financial Solutions
Look4Ward Finance
Lowell Group
Red Debt Collection Services


Your dealing with one and the same, better known as useing unfair and deceptive measures to put presure on you

I too have received letters from Lowell, then from Hamptons Legal - havent replied to any of them.

What is there available for people to do seeing have they used "unfair and deceptive measures to put pressure on you" to pay?

TotalDespair

Hi

This bit about Lowells and there different names was quite interesting BAB..is there any other examples that you know of i.e. main Debt Collection Agencies and there sub names.

We go BR on Nov 6th 2009 and the paperwork is piling up from various different companies all for same debts , just different ref numbers and different company names.

Surely this is scarey for folk who dont know any better, my OHs paperwork from Lowell could replant a forest and coming home from work he has to really push his front door open sometimes, Im sure the postmans gonna have a hernia :rolleyes::rolleyes::p;);):cool:climbing the stairs to his flat with all the bumpff from these companies and whats scarey if folk dont know the ins and outs of how these companies work they could make someone a blinkin nervous wreck, they feed on folks fear and embarassment of being in debt thank god for this site, I promote this site and its forums most days:j:Tand long may they continue to give the advice Ive found so helpful.

Lexie and hi to everyone :j:j

Emily1990_2

Ingoinggore wrote: »

In reply to the last post by Fermi,

One letter is a "Pre Bankruptcy Petition" effectively telling me that my account has been reviewed by the head of litigation and it has been decided that my account be fast tracked to their bankruptcy division, to consider filling a petition at court for my bankruptcy.

The amount is for £2,087.02.

The letter is from Red (debt collection services)

The other letter is from Hamptons Legal, asking for exactly the same amount of money for exactly the same client. Their letter is a little less threatening, but still bad nonetheless.

I own a van that is used for work only, my worry is that if I was declared bankrupt, that would be taken away from me and I wouldn't be able to work... I'm a joiner by trade, I need a vehicle to get to and from work.

I also don't earn nearly enough to pay this debt, I'm an apprentice joiner, so I'm at college learning.

I'm so confused

P.S I don't own a house I live in rented accomodation

I'm not 100% on this but I don't think they can take your van or trade tools if you go BR. Check this yourself though.

nuttyp

the OR will usually check about things like your van, they dont like taking vehicles if they are needed for work - it depends on how much its worth too. The OR we had was very fair, and very helpful - even tho im discharged he's still very nice and is currently sorting out abbey as i write.

Good luck to anyone who considering or in the process of declaring themselves BR.

Waspeze

http://www.insolvency.gov.uk/freedomofinformation/technical/TechnicalManual/Ch25-36/Chapter30/Part%202/Part%202.htm

there's some info here on exempt things.